Wednesday, 03 June, 2020
this XM
this XM
going to be interesting for the Sydney session.. while TY have done all the work this afternoon, XM started off being aggressively sold pushing out Aussie/us to past 27bp .. have seen that unwound by 3bp over the last couple of hours as TY been hit hard and the (presumed) CTA selling in XM dried up.
But to note into the roll period as CTA’s do like to lighten up the active contract and the position unwinds tend to be over a few sessions, feels like more to come in SYD tomorrow.
we just gave 1k XM at 98.99 matched into TY at a spread of 24.75.. we could see this get another shove through the SFE days session.. might be a nice one to have on
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